• Breaking News

    Saturday, February 3, 2018

    Home Unlabelled Personal Finance I kept a detailed record of how much was spent to have our baby. Here it is.

    Personal Finance I kept a detailed record of how much was spent to have our baby. Here it is.

    February 03, 2018

    Personal Finance I kept a detailed record of how much was spent to have our baby. Here it is.

    I kept a detailed record of how much was spent to have our baby. Here it is.

    Posted: 03 Feb 2018 06:49 AM PST

    Almost three years ago my wife and I had our first kid. I kept track of everything that we spent money on that was kid related. Starting from the pregnancy test to the hospital delivery bill. We also estimated the value of any gift we received to give a full itemized bill idea of how much money was spent on our kid before she was even born. I made an ugly spreadsheet to track it all. I thought about posting this here when I was all done but decided not to because A, I just had a kid and was busy, and 2 I wasn't ready for the criticism I was inevitably going to receive. But, now I am ready and less busy, so here we go.

    Starting with the big number:
    To bring our baby into the world from scratch cost $9,984.55.
    My wife and I spent $6445.66.
    We estimated receiving $3,538.89 in gifts.

    I broke everything down into these categories:

    Category Cost
    Gear $1,661.02
    Diapers Ect. $119.90
    Baby Clothes $294.54
    Mom Clothes $804.30
    Medical $4,170.05
    Books $248.78
    Toys $275.93
    Bedroom $2,305.53
    Feeding $161.21

    In anticipation of some shock on all this spending I'll add that we bought things that we felt would be useful to our lifestyle, within our budget, and that would last for many years to come. We could have spent less, and many people do, and many people actually go well beyond.

    The most expensive things were:
    The hospital trip to safely have a baby ($3517 delivery related bills combined)
    -Having a baby fall out of a woman in a hospital in America is expensive. This was after insurance covered their portion.
    A crib + mattress that converts to a toddler bed and full size bed ($890 total - gift)
    -Kid is almost 3 and we converted the crib to the toddler bed shortly after she turned 2. She wasn't a chewer, so it's currently in great shape to stay her bed until her teens or beyond.
    Mom clothes ($804.30)
    -After seeing this final number I told myself I shouldn't ever gain too much weight because I now know how much a new wardrobe could end up costing me. We were at a point in life where most of the items were bought new and that was OK. A new glider chair ($500 - gift)
    *-I wish we could have found this used but didn't have any luck. We wanted one with a high back because I'm tall. I'm thankful we found one, I spent so many nights rocking and dozing in and out of sleep on this thing, I'm very happy with it. We still use it nightly for reading bedtime stories.
    The stroller ($384)
    -We got one of those fancy BOB running strollers, I ran over a hundred miles with her and we walked plenty of unpaved trails at our local state park. She spent hundreds of hours in this thing. This was the only stroller we used, otherwise we carried her everywhere in the front/back carrier. Plus these strollers have a high resale value.
    Car Seat + extra base ($375)
    -We have two cars, a base for each car was great.
    Two camera video baby monitor ($250)
    -We did a lot of traveling and having the extra camera to just pack and go was really handy. A video monitor is the shit, being able to check and see if a noise was just stirring or something more was great.
    A cute rug ($239)
    -A cheap rug would have served the same purpose, but shit it's our first kid, sometimes you gotta get that cute thing.

    Writing this with the benefit of hind sight I think we actually did a great job of getting the right thing for us on the first try. We tried to get things with the idea of potentially having another child. Of everything major that we bought, the monitor is the only thing we would need to replace if another kid sauntered into our lives. The battery is now totally useless and one of the cameras died last month. Also we dropped it, so the power cord is soldiered to the chip and I'm awful at soldiering so it whole housing is glued together to keep it working.

    So can you do this cheaper? Absolutely, buy everything used. Babies aren't all that picky. I lived in rural Illinois at the time and our availability to get nice used stuff was limited. Also hand-me-downs can help tremendously, our extended family had kids eight years or more years before us (if they had any) and lived many states away so most of their baby stuff was gone. Also, don't underestimate the generosity of others, there are people out there who LOVE babies and love buying baby things, hopefully you know one or two.

    Another money saving tidbit, use cloth diapers. Back when I was weighing the benefits of them, I found we would break even with cloth over disposable at two years. Our kid suddenly decided to be potty trained right before Christmas so our cloth diapers lasted a bit over 2.5 years, we definitely saved money with cloth. If we accidentally have another kid we will save a ton in diapers because the original ones we got are still in great shape. Also, you can find used cloth diapers around which can save tons, we hope to sell ours. A very appreciable downside to cloth, you're guaranteed to be washing the diapers about 2-4 times per week.

    A shout out to /r/predaddit for all the helpful tips and stories that were so great at the time. Also /u/steeldirigible98 & /u/SavingsJada and the several updoots for the courage to finally post this on this sub. I hope this info helps someone out there.

    submitted by /u/FatTonyTCL
    [link] [comments]

    Spent over $1,500 on coffee in 2017. No more.

    Posted: 03 Feb 2018 02:19 PM PST

    Hey everyone, I've been reading this sub for a while and I've learned quite a bit on how to manage my finances. Coming from personal experiences, I feel like sometimes we can be really stubborn and can be told the right thing over and over again and nothing will change unless we actually do something to make that change. I wanted to share my story pertaining not only to finances but to overall health as well and how they went hand in hand.

    I started my current job in 2013 and had bought coffee in the morning here and there. 2016 and 2017 were difficult years and coffee and food had became a daily comfort for me before and after work.

    It started as a cup a couple of times a week. Then daily. Then daily coffee with cream and sugar. Then sometimes with syrup. Then every day with syrup. Since I'm getting something to drink, why not food? A bagel a couple of times a week with the coffee. Sometimes two. Some mornings I would be spending $12 and also 1,200 calories.

    I was already fairly overweight for many years but last year I ballooned up to 265 lbs. In late October I was sitting at work with all this was running through my head and I finally made the decision to stop. I started intermittent fasting along with changing how I eat which meant no more morning Dunkin meals. Dusted off the coffee maker in the office, bought a bag of whole beans for work ($10), one for home ($10), and an IKEA french press for home ($20).

    Today I looked through my statements from 2017 and added it all up. $1,200 on Dunkin and $350 on Starbucks. And that's all credit purchases, not counting cash. $5 a day adds up quickly over time when you don't keep an eye on it. Since last November I can say I've easily saved over $400, I've down 25 lbs. so far and the coffee these days tastes so much better!

    submitted by /u/3itmn
    [link] [comments]

    I was an idiot addict for 7 years and fucked myself over. Now I'm 7 months clean and I'm trying to get back on track, but I'm not sure where to start.

    Posted: 03 Feb 2018 11:13 AM PST

    As the title says, I was a hardcore raging alcoholic for 7 years. Now I'm still an alcoholic (will be for the rest of my life), but I've been clean 7 months as of the 26th of last month. Things are moving forward with my life, but my past is officially coming back to haunt me.

    I am currently 26 years old. I took out a credit card when I was 20 and used it for rent 1 time (like 400$). I then moved from that location and never paid my bill. I know by now it's in collections and fucking up my credit, but I don't even know how to begin to find my debt and pay for it. Who do I contact? I think it was a capitol 1 credit card, but I honestly don't remember.

    I haven't gotten any other credit cards since then, but I recently applied for one and found out my credit score is 571. So obviously bad. I really want to pay off this debt and start building my credit, but, again, I'm not sure where to begin.

    Also, in the throws of the end of my active addiction last year, I did not file my 2016 taxes. I don't have my w2s for that time either. And I just got a letter in the mail from the IRS saying I owe 475$ that I have to pay in 10 days or else (basically).

    Do I just pay that fee and my taxes from last year are taken care of? Or will I have to file last year's taxes along with this years?

    I really hate how much of an idiot my past shows me as. I am so ready to move forward and start my actual adult like correctly. I just don't know where exactly to start.

    Thank you for reading my rambling and for your help.

    submitted by /u/I_Dream_Of_Robots
    [link] [comments]

    Forced to be a co-signer on a car loan. Do I have any options?

    Posted: 03 Feb 2018 07:34 PM PST

    Hello all, this may be lengthy so I apologize in advance.

    I'm a college student who was struggling with undiagnosed bipolar disorder and had to take a medical leave from school. I was pretty much forced to stay with my mother even though I didn't want to, and I've been here since November.

    My mother is financially abusive and emotionally abusive but I was trying to just get a job and work as much as I could so I wouldn't be at home. I've kind of been doing that but the same old issue of her not being able to pay the bills came up and I had to work extra just to keep the lights on. I don't make much in the first place.

    Fast forward to now and her car was about to get repo'd. I pulled some doubles but I'm a server and I couldn't make enough money by the deadline. So her car is going to get repo'd on Monday. Today she called around and was able to get someone at a car dealership to tell her that they could get her a car if I co-signed on it. I have pretty good credit and her credit is bad. So she woke me up saying to get dressed and that I had to co-sign with her to get a car. I got really upset because I knew what would happen if I said no, but I told her no, and she got really angry and was going to take away my car so I couldn't get to work (it's all in her name) and kick me out. I don't know anyone in this city so I'd be sleeping on the streets. I called my dad but he doesn't really want to deal with it and told me to co-sign so I could stay and that "even bankruptcy only lasts 7 years". So I was crying and upset because I don't have any where else to go and I need her information just to get into school.

    So basically I was forced today to co-sign or else I would be homeless and unable to return to school in the fall.

    The loan is set up in a way that if she makes payments for a year, it can get refinanced and I can be taken off of the loan. My car will be paid off this month so that's one less bill so BEST case scenario is that she can keep up with the payments until I can be taken off the loan.

    Worst case is that I have to pay $550 a month for a car I don't even drive.

    I can't go back to school until the fall, but is there any other options I have? I know that I shouldn't have co-signed but it felt like I had no choice. I'm just really stressed and wiped out at this point.

    Tl;dr: forced to co-sign on a car for at least a year until it can be refinanced. Is there anything I can do or am I SOL?

    submitted by /u/fuck_a_stamp
    [link] [comments]

    Father has terminal cancer during my last years of university. Not sure what happens with student loans

    Posted: 03 Feb 2018 06:50 PM PST

    So my dad did the parent plus loan to pay for my tuition. Unfortunately he was diagnosed with terminal chronic lymphocytic Luekemia. He isn't going to live for long and he isn't working because he is very ill. I try to talk to the school about reducing the loans and they rejected the offer. So I'm stuck. What happens now, does the loans just come to me now? Or can it be reduced? Ever since my dad's diagnosis money is extremely tight. And it doesn't make it any easier after the damages we suffer from hurricane Irma.

    submitted by /u/mistyokmon
    [link] [comments]

    3 things that have helped me save. Thought I'd share

    Posted: 03 Feb 2018 11:13 AM PST

    So 3 really minor things have helped me save dramatically. I mean, I haven't saved thousands and thousands of dollars, but I have noticed myself saving almost $1000 per month or so more than I normally am able to.

    • 1: I got an online savings account. I did this initially because of the relatively high APY. I chose Ally bank. What makes this a good trick for saving is how it is not as accessible as my previous set-up. I used to have my savings and checking at the same credit union, and if I was ever uncomfortable with my checking account, I would just transfer some money from savings. Now, that option isn't so simple. In fact, I haven't even tried yet because it seems like it would be more work than it's worth. So each month, I "pay myself" to my savings account. I don't think this is uncommon, but I thought I'd share it.

    • 2 I made an "office" at home. So I rent a duplex and it is pretty small. I don't have an actual office, but I set up my furniture in a way that it kind of segregates a spot for my desk. I have all of my bills and financial documents there with my laptop. This allows me a place to go through any financial information and helps me keep track of it with an Excel spreadsheet (I also use Mint). This is just a minor thing, but in my head it makes me feel more responsible, as if I'm running a company called MDGiov Inc. I guess my advice here would be to find a place to separate your finances from your normal life.

    • 3 I drunkenly increased my 401k contributions. Okay, so I'm not suggesting everybody get drunk and increase their 401k, but I do suggest you reevaluate how much you are contributing and determine if it's something you can increase. I feel like a big problem for me (which is why step 1 has helped) is if I have the money, I'll find a way to spend it. If I get an invite to go out to dinner or drinks, and I have the money, I'll probably go. With 401k contributions, it's money that I never see, as it is deducted from my paycheck. I bumped my 401k contribution one night and I barely remember it, but it wasn't very noticeable. I've become obsessed with personal finance, so I noticed my check was lower, but all it did was force me to change my spending habits ever so slightly.

    Anyway, just thought I would share. I don't think any of this is groundbreaking information and I also realize this might not work for everybody. It has helped me immensely so I thought I would share, as this subreddit is pretty much the main reason why I've had any success at all with my personal finance. Cheers

    TLDR: Online savings account makes money less accessible/inconvenient. Office at home for finances. Increasing 401k if possible.

    submitted by /u/MDGiov
    [link] [comments]

    (Taxes) I think my previous employer is trying to screw me and coworkers with tax stuff

    Posted: 03 Feb 2018 04:42 PM PST

    So backstory here... i worked for a smaller construction company for almost 2 years. Was going well until it wasn't. The last 6 months there were bad, poor leadership, missed payroll(some as bad as 8 days late), losing contracts, and layoffs.

    I finally quit in early December because he failed to pay us on time AGAIN. left on semi-decent terms. company is still running but barely

    Main Problem! I got my w2 but then a few days later got a 1099-misc with one months wages in the nonempolyee comp box(7). Asked around to former coworkers and they got the same thing, some of who still work there.

    i contacted "HR" (one person who does everything in the office) and she said to just file it as a subcontractor and that why we didn't get paystubs for December.

    So should i have to pay taxes as a contractor when i NEVER signed anything or did any contract work for them?

    December was a rough month for them because when i quit he lost my crew and the jobs i was on. i have a sneaking suspicion that he is just trying to save his taxes and screwing his employees by making us pay for it.

    Any help would be great. This would mean the difference in having to pay or not this year.

    submitted by /u/DCC-
    [link] [comments]

    Why are student loans the only types of debt that can’t get discharged in bankruptcy?

    Posted: 03 Feb 2018 05:31 PM PST

    I'm just curious why all the other debts can but not this one specifically. Is it just more effective lobbying on behalf of the student loan companies? Or is there an actual reason?

    submitted by /u/SignificantPirate
    [link] [comments]

    Medical bills heading into collections despite making agreed monthly payments.

    Posted: 03 Feb 2018 03:39 PM PST

    I have multiple accounts from one hospital totaling $7000 (roughly). When I got better I combined all the accounts and agreed to pay $110/month. This is all on top of medical bills from other facilities. Payments are automatic and I have double checked to make sure everything clears every month. 3 months ago I got a notice that 1 of these accounts was not receiving payments. I called and they said it wasn't a big deal, probably a computer glitch. I got the same notice 2 months ago. I called and they said they see that account with the others, I have been making payments, and to ignore any further statements. I get the same statement last month and ignore it per their advice. Today I got a notice that said that account is heading into collections on 2/10.

    Not sure what to do from here. I'll call again on Monday but it's clear the people I get a hold can't do anything, I've already talked to them twice. I can't afford to pay this 1 account off.

    submitted by /u/Calvins8
    [link] [comments]

    What is 16% of my life worth?

    Posted: 03 Feb 2018 03:43 AM PST

    For my job I am being given the option to either work for only 6 months of the year for 71k or 8 months for 97k. However, "work" means living on a boat for a month at a time with 12 hour daily shifts without the liberty of getting off the boat. There is plenty of promise and oportunites for being promoted.

    I am 22 years old with no home of my own. I also owe 25k in student debt which I have been diligent with paying off within 2 years.

    This is my first real reddit post and I am just looking for some honest feedback. I'm sure there is plenty of information here that is missing so if any clarification is needed please let me know.

    Edit: My work rotation is causing some confusion. It is as follows:

    Work 28 days straight and get 28 days off (6 months of the year total) Or Work 28 days straight and get 14 days off (8 months of the year total)

    Edit 2: Thank you everyone for the feedback. I understand this was not the best of posts and I could have made stuff a lot more clear. I look forward to returning and figuring out what to do with this money that I can't spend on a boat.

    Thanks again :)

    submitted by /u/Fehios
    [link] [comments]

    Student loans and buying a home

    Posted: 03 Feb 2018 05:50 PM PST

    USA Ga Hey guys,

    My husband and I have been trying to figure out the best thing to do. I'm currently an educator with 78k in student loans. We have 16k left on a vehicle and a credit card. We'll be finished with that this summer. I've been following Dave Ramsey and on the sub I know they wouldn't recommend us purchasing a home because we will still have 78k in student loans.

    Being an educator, I'm currently on the public service forgiveness loan program. I was just told today that I have 5 years of qualifying payments. I have 5 more years to go.

    Should we purchase a home in the same price point or cheaper that we're renting?

    The reason I'm asking this is because our home that we are living in will he sold this year at the end of our lease. Following the Dave Ramsey plan we would pay the debt down and then save up for our emergency fund. I'm thinking we should pay the rest of the consumer debt and then save for the emergency fund, bc the student loans will be forgiven in 5 years. Next, we should save for a home.

    Please let me know your thoughts? The market is hot so what are your thoughts.

    submitted by /u/christmasMom87
    [link] [comments]

    Old gym membership which I tried to cancel (3 different times) is in collections apparently. How do I confront the gym (again)?

    Posted: 03 Feb 2018 11:48 AM PST

    I had a gym membership in 2016 for about 8 months before I moved away. Before moving, I went to the gym to cancel my membership and spoke with a manager there who informed me I had cancelled. 6 months later I get a call from the gym saying they are cutting my membership since I am 6 months behind on payment. I informed them that I had cancelled with the manager (lets call her Stacey) Stacey, to which the representative on the phone informed me Stacey was let go recently for stealing customer's money and embezzling funds from fraudulent accounts. The representative says she personally has been assigned to clean up after Stacey and has come across several accounts just like mine in the wake of Stacey's firing. Anyways, she tells me to email her my information and she would clear it up in the coming week. I call back a week later, same girl, tells me I'm okay and the account is cancelled.

    Fast forward to 2017 I get a notification on credit karma about a account in collections. Odd as I know I dont. I check the details of this account and lo and behold its a debt collector trying to collect my debt for unpaid gym membership fees at that same gym. Great.

    I call the gym, repeat the process, says "Your account is cancelled and all credit with us has been cleared, we apologize."

    Today I get an email about an account in collections. You guessed it, same account, bigger amount because I haven't paid it.

    My question is can I take legal action against the gym? How do I go about actually erasing the account from my name? What do I do?

    Any help would be amazing.

    submitted by /u/winnershnitzel
    [link] [comments]

    I think someone stole my dad's identity and is opening credit cards in his name (US)

    Posted: 03 Feb 2018 07:10 PM PST

    Exactly what the title says.

    My dad is not tech savvy, but some things in life require online credit checks, so I used my email to get those for him.

    Lately, we have received credit alerts from credit karma claiming that someone (not us) checked my dad's credit report. About 2 weeks later, a new credit card is open under his name with almost $2000 already spent.

    I don't know what to do. Please help.

    submitted by /u/Haight_Is_Love
    [link] [comments]

    How can I rebuild my credit score?

    Posted: 03 Feb 2018 10:44 AM PST

    I use to have an excellent credit score (751), but at 19 I got custody of my teenage sister and had to support her, myself, escape an abuse situation, and I moved halfway across the country twice! Being young while caring for a young person has killed my credit.

    I have a credit card in collections(Kohl's for about $350), a credit card still open at $1000 but it's maxed out and I haven't been making recent payments, and last March I was evicted from an apartment​ (total slumlord and slum apartment it was an awful situation).

    I am planning on completely paying off my open credit card this month. I have also successfully rented somewhere since my eviction but my credit score is now in the 400s.

    What is a reasonable goal to set for getting my score to? How long will it take? Is it a good idea to completely pay off my open card or should I pay it off in a few payments?

    Side note: I also have lot of medical debt. I have been sick since a child and unless I win the lottery I doubt I will ever pay it all off. But I have heard this doesn't affect you as much as other debts, and clearly my previous score reflected that.

    Thanks.

    (Edit) I make 33k a year, I am self employed. I have recently begun working more in efforts to increase my income. My housing is $1000 a month, $185 car payment(my partners), $150 car insurance, $50 phone bill, $75 approx in medications/copays but this is sometimes more or a tiny bit less. I don't pay utilities. I use a lot of gas for work, upwards of $350 a month, and around $400 a month on food.

    submitted by /u/informedbutcurious
    [link] [comments]

    Going to Optometry school this year. Need to get student loan fast.. HELP!

    Posted: 03 Feb 2018 04:10 PM PST

    Hi guys,

    I'm going to optometry school this year after few years of working in IT. I do not have any savings as I spent a year using it study for admission exam. I only have 401k and I don't think I wouldn't touch that. I'm not expecting any money from my parents (possible but I'm not expecting). I have excellent credit score with history.

    $251,848 is estimated full attendance budget for 4 years.

    $138,500 is maximum amount you can get from Stafford Unsubsidized Loan for graduate student.

    $115,000 is amount that I need to borrow after the Stafford loan.

    I'm looking for low APR/reliable/re-financeable private student loan company to get $115,000 loan.

    Do you guys have any suggestions for the loan company/plan?

    Thank you guys a lot.

    submitted by /u/DepressedFatCat
    [link] [comments]

    College Student with low expenses looking to save and build credit

    Posted: 03 Feb 2018 05:14 PM PST

    Hey everyone. So here's my situation: I'm a second year college student (19) who's lucky enough to have my parents paying for pretty much all of my living expenses. I just started working again to start putting money away and building my independence. I currently make California minimum wage ($11 at the moment). I want to start setting money aside every paycheck into various accounts (investments, emergencies, savings, goal purchases, etc.). Is there any advice you guys have for how to split my money most effectively? Additionally, I'd like to start building credit. What is the best and safest way to go about doing this?

    Currently I deposit small amounts of money monthly to my Roth IRA, and an Acorns investment account (I've seen a 9.9% gain on my account investments which seems better than letting money sit in a savings account to me).

    Thanks everyone!

    submitted by /u/csb710
    [link] [comments]

    84 year old needs a new car. I'm supposed to help her. Any suggestions?

    Posted: 03 Feb 2018 06:07 PM PST

    I've read the wiki. She has been driving a big Ford truck for the past 17 years to haul her hoses around. She no longer has horses, and want to buy a small car. Realistically she is probably not going to be driving more than 6-10 years at best. We're in the western US. Think she should buy a new car? lease a car? buy a recent used vehicle with a good carfax?

    submitted by /u/ez_as_31416
    [link] [comments]

    Paying off medical bills

    Posted: 03 Feb 2018 09:39 AM PST

    As of last night I was able to pay off the remaining of my hospital bills from when I delivered my son back in March 2017. As a little back story, he was a surprise and I was in no shape, way, or form remotely ready to start thinking about children. I had no savings set up, no budget, and I lived pay check to paycheck because of frivolous spending. About half way through my pregnancy my dad lost his job which ment my health care went away, I was 23 so I was still able to be under his insurance. Luckily I work at a company that offers insurance. The bad part was that I basically had to start from scratch with a new deductible. With it all said and done I paid about $9500 for bills that pertained to myself and my son. By buckling down and seeing tips here and there on this sub Reddit I was able to pay everything off in a timely manor. I will say that the hospital I delivered at did allow me to set up a payment plan which helped to alleviate the stress of having to pay everything all at once.

    Tl;Dr Thank you r/personalfinance for making see that I can pay off unexpected bills by setting up a budget and sticking to it.

    submitted by /u/freetitpics
    [link] [comments]

    Move to a new location, trying to find reviews of auto insurance companies

    Posted: 03 Feb 2018 05:37 PM PST

    Hi,

    I hope this is the right place to ask. I recently moved to Los Angeles and am now receiving quotes from various auto insurance companies.

    I am quite lost because there are several companies that I never heard of and they are quite competitive. One quote stands out is from Mercury. Never heard of it before. Anyone with them can share the experience or guide me to where I can find reviews of auto insurance companies?

    Thank you!

    submitted by /u/lutz890
    [link] [comments]

    I did some contract work while living at my moms and had no expenses. The accountant at turbo tax said if I have no expenses it will raise a red flag, what do I do?

    Posted: 03 Feb 2018 07:27 PM PST

    I don't pay for rent, or internet, or a phone... I did pay for some of my own groceries. I can't expense my car because I never had to drive anywhere for work.

    I guess I could expense going to starbucks to work occassionally?

    Can I expense having to pay for my own health insurance out of pocket?

    Will the IRS really red flag this? I have a 1099 and everything. She said if I don't have expenses it will look like I'm doing a "hobby". It was most definitely not a hobby... Honestly she gave me an attitude and was very unhelpful and I'm really not sure what to do here :(

    submitted by /u/Small_cat_ears
    [link] [comments]

    Bill from IRS after 2016 tax return mistake, what are my options?

    Posted: 03 Feb 2018 04:56 PM PST

    Hello! I recently received a letter from the IRS stating that I owe them ~$575 from a mistake on my 2016 tax return. I filed my taxes myself on turbotax, claiming that I was going to school (went/paid about $600 out of pocket for online school, which I dropped after 3 months due to a job change). I only received ~$70 back on my return last year - and before claiming school I was going to potentially owe ~$150. I claim a 1 on my W-4. Is there any way to re file my 2016 tax return? At the time I did not realize I had to have been going to school for 6 months to claim that. I've never owed the IRS and definitely do not want to mess around!

    Also, I've been trying to figure out how the new 2018 tax bracket effects my checks, but to be honest I am pretty clueless. I was hoping that you kind folks could briefly ELI5 how this will effect my checks? I'm 25 unmarried/childless with a gross income of 36k. My checks range from 900-1,100 bi-weekly.

    I'd appreciate any input on either subject! Thank you!

    submitted by /u/Tunnelsnake
    [link] [comments]

    I need advice somethin' fierce.

    Posted: 03 Feb 2018 06:56 PM PST

    My family was restationed to Arizona at the beginning of this year. Before now, we lived 8 months in California. Which left us drowning in debt from the loans we had to pull out and pay back for all the times we couldn't pay our bills, rent and transportation costs. We were able to pay a good portion of these expenses back and then they moved us here. Which kind of took a lot of money to do, more than we thought we'd have to pay.

    Right now I'm facing all my utilities being shut off because I simply can't afford a 540 dollar light bill (this being because they require a deposit which was added to our first bill, 384. Normal bill for the month of JAN 159), a water bill of 116, a phone bill of 304 (family plan with sprint), rent 1105.94 and groceries/transportation/haircut( to stay in regs)/parking garage fee for work that usually averages 350/two weeks. Collectively we make just enough to afford rent, groceries, and transportation.

    We've contacted some of the assistance programs in the area and despite the fact that clearly we don't make enough, we are told the opposite. I just don't even know where to start again with all this. Who to call or if there might be more information out there that I'm missing. I'd appreciate any advice on the subject.

    submitted by /u/Doves_inthe_wind
    [link] [comments]

    Going to inherit over 250k. What do I do?

    Posted: 03 Feb 2018 06:56 PM PST

    I'm about to inherit around 270k. My dad is holding on to it for me, but suggests I do something with it soon. I'm not entirely sure what to do, or where to put it. I currently live abroad, so won't be able to directly go to my bank and ask for help. No CC/loan/student debt.

    In my personal bank I have: (I don't use this money unless I visit home) -30k investment But I haven't done anything with it yet. . -5k savings

    In my foreign bank: -6k savings - Salary around 41k -rent: 1k / month -food: ~ 1k / month

    submitted by /u/catattack00
    [link] [comments]

    Where can I put TIME and EFFORT for future gains?

    Posted: 03 Feb 2018 04:37 PM PST

    Hi all. I'm 24 and I currently work retail making close to minimum wage. I have no marketable skills. I have no realistic chance of going back to school until I increase my income, because in my specific situation I'd have to pay for classes out of pocket.

    Where is the best place to start when it comes to increasing future income? I am willing to put in an enormous amount of effort. I can start with 1 hour per day and see if I'm comfortable increasing it from there.

    Options that make sense to me right now are:

    *Spend 1 hour per day looking for a new job online and/or in person and roll the dice until I find high-paying job with no requirements.

    *Spend 1 hour per day self-teaching a marketable skill (for example I can learn C++ online with guides)

    *Find a trade school? And use that experience to get a higher paying job.

    Since I plan on devoting a large portion of my daily free time into this, I want to make sure it's used wisely. Can anyone give me advice on where my time and effort would be well spent?

    submitted by /u/Gidanocitiahisyt
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment